EUR/USD, GBP/USD Turn At 61.8% And 50% Fibonacci Resistance

Discussion in 'Technical Analysis' started by Kaitlin, Sep 23, 2016.

  1. Kaitlin

    Kaitlin Forum Member

    Aug 29, 2015
    Likes Received:
    The EUR/USD bullish bounce at support (green) managed to reach the opposite side of the wedge (red resistance). The 61.8% Fibonacci resistance level caused price to build a bearish bounce, which either completes a wave X (blue) or starts a bullish zigzag (green A) within wave X (blue).[​IMG]

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